Flutter Entertainment PLC $FLUT Shares Sold by Blue Whale Capital LLP

Key Points

• Blue Whale Capital LLP has reduced its stake in Flutter Entertainment PLC by 3.5%, now holding 295,450 shares worth approximately $65.5 million.
• Insider sales include two board members selling shares, with insider ownership decreasing significantly; insiders collectively sold around $6.1 million in stock over the last three months.
• Equities analysts have positive projections for Flutter Entertainment, with a consensus rating of "Moderate Buy" and target price of $332.70 following boosts in price objectives from several firms.

Blue Whale Capital LLP cut its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 295,450 shares of the company's stock after selling 10,711 shares during the quarter. Flutter Entertainment comprises approximately 5.3% of Blue Whale Capital LLP's portfolio, making the stock its 8th largest holding. Blue Whale Capital LLP owned about 0.17% of Flutter Entertainment worth $65,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FLUT. Lone Pine Capital LLC acquired a new position in shares of Flutter Entertainment during the fourth quarter worth about $494,291,000. Nuveen LLC acquired a new position in shares of Flutter Entertainment during the first quarter worth about $289,627,000. Primecap Management Co. CA acquired a new position in shares of Flutter Entertainment during the first quarter worth about $210,940,000. Hsbc Holdings PLC increased its stake in shares of Flutter Entertainment by 376.4% during the first quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock worth $187,304,000 after acquiring an additional 675,949 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Flutter Entertainment by 52.2% during the first quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock worth $409,816,000 after acquiring an additional 634,497 shares during the period.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded up $0.66 on Tuesday, hitting $300.64. The company's stock had a trading volume of 2,410,058 shares, compared to its average volume of 2,301,704. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a market capitalization of $52.94 billion, a price-to-earnings ratio of 148.10, a price-to-earnings-growth ratio of 1.45 and a beta of 2.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50 day moving average of $290.89 and a 200-day moving average of $262.24.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has authorized a share buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLUT. JMP Securities boosted their price target on shares of Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a research note on Friday, August 8th. Oppenheimer upped their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Canaccord Genuity Group upped their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Truist Financial upped their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carolan Lennon sold 430 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $105,655.30. Following the transaction, the director directly owned 769 shares in the company, valued at approximately $188,950.99. This represents a 35.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,754 shares of company stock valued at $6,108,064. 0.09% of the stock is owned by corporate insiders.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.